Valuation
Independent opinions of value for legal, statutory, financial and transaction purposes.
- Litigation and expropriation
- Estates and insolvency
- Financial reporting
Real Estate Advisory
Market studies, feasibility and due diligence before capital is committed.
- Development feasibility
- Highest and best use
- Portfolio advisory
Sustainability & Value
Energy performance measured and priced into the value of property.
- Energy Performance Certificates
- Retrofit value analysis
- Section 12L incentives
Methodology, reporting audience and information requirements defined for the matter at hand.
Define the mandateProperty, markets and the forces shaping value.
Briefings, regulatory developments and a curated library of legislation, guidance and market data for owners, investors and their advisers.
What current developments mean for property.
Short notes from the practice on the issues most likely to affect value, compensation and compliance.
The Expropriation Act 2024: signed, but not yet in force.
The Act was signed into law in January 2025, but its commencement awaits the outcome of constitutional challenges. Until it is proclaimed, expropriations continue under the 1975 Act.
What it means
- Compensation is still assessed under the existing framework
- Recent appeals turn on highest and best use and before-and-after evidence
- Landowners benefit from an independent valuation before responding to an offer
Energy Performance Certificates are now a value issue.
Qualifying non-residential buildings must hold and display an EPC. Efficiency is now visible to every tenant, lender and buyer, and is increasingly reflected in rentals, costs and yields.
What it means
- EPC status belongs in every acquisition due diligence
- Inefficient buildings face retrofit costs that affect net income
- Verified savings may qualify for the section 12L allowance
Rates objections succeed on evidence, not argument.
General and supplementary valuation rolls set the rates burden for years. Objections and appeals that cite comparable sales and a reasoned valuation carry far more weight than a statement that the value is too high.
What it means
- Check the roll value against recent comparable sales
- Note objection windows for supplementary rolls
- Support objections and appeals with an independent report
Dates that move value.
Key milestones in legislation, valuation rolls and incentives affecting property owners in the practice’s markets.
Expropriation Act signed
Act 13 of 2024 signed into law; commencement not yet proclaimed.
Awaiting commencementTshwane roll in effect
General valuation roll 2025–2029 applies to rates.
In effectEPC display deadline
Qualifying non-residential buildings required to display an EPC.
Now enforceableJoburg supplementary roll
Objection period for GV2023 Supplementary Roll 3 closed.
ClosedCompensation on appeal
Nad Property Income Fund v SANRAL tests highest and best use in expropriation.
Case lawSection 12L ends
Energy efficiency savings allowance extended to this date.
Upcoming
Dates reflect published information at the time of writing. Confirm current positions with the relevant authority before acting.
Legislation, guidance and data.
Each resource is selected for its relevance to valuation and property decisions, with a note on why it matters.
Tshwane Valuation Roll 2025–2029
Search municipal values on the current roll and download objection forms. The starting point for reviewing a rates assessment.
Open resource →Understanding the Tshwane valuation roll
Who may object, the evidence required and how objections are assessed, including the role of an independent report.
Open resource →Johannesburg valuation objections
Inspect the general and supplementary rolls and lodge objections within published periods.
Open resource →Expropriation Act 13 of 2024
Full text of the Act that will replace the 1975 Act and introduce a just-and-equitable compensation framework.
Open resource →Commencement of the Expropriation Act
The Presidency’s reply confirming commencement awaits constitutional challenges, with the 1975 Act still applying.
Open resource →Nad Property Income Fund v SANRAL
An appeal in which the gap between claim and offer turned on highest and best use and before-and-after valuation evidence.
Open resource →Property valuations explained
The different types of valuation in South African law and practice, including requirements in deceased estates.
Open resource →Administration of Estates Act, section 6
The statutory basis for persons appointed by the Master to value property in deceased estates.
Open resource →EPC registration and display deadlines
The registration and display requirements for qualifying buildings, and the penalties for non-compliance.
Open resource →EPC compliance in South Africa
An overview of what building owners must do to comply with the energy performance certificate regulations.
Open resource →Section 12L: deduction for energy efficiency savings
SARS interpretation note on the 95c per kWh allowance, the baseline, measurement and verification, and exclusions.
Open resource →EDGE green building certification
The IFC certification for buildings achieving at least 20% savings in energy, water and embodied carbon.
Open resource →South Africa tops global commercial property performance
South African commercial property among the strongest-performing markets on an annual return basis.
Open resource →MSCI South Africa Property Index
The benchmark for income and capital returns on directly held South African commercial property.
Open resource →Africa Property & Construction Cost Guide
Benchmark building costs across African markets, relevant to cost-based valuations and feasibility studies.
Open resource →International Valuation Standards
The global framework for valuation approaches, bases of value and reporting.
Open resource →RICS Valuation – Global Standards
The RICS global valuation standards, widely referenced by lenders and international investors.
Open resource →